Tax News

For any business, efficiently navigating the complex web of tax regulations is pivotal for businesses aiming to thrive in India's competitive landscape. The significance of prudent tax planning cannot be overstated, especially for startups and enterprises seeking to bolster profitability. Often, ...

The Indian government on Monday slashed the windfall tax on petroleum crude to Rs 1,700 ($20.53) per tonne from Rs 2,300 a tonne. The new rate is effective from today (January 16). The windfall tax has been reduced from Rs 2,300 ...

In a bid to provide relief to taxpayers who missed the deadline for filing Income Tax Returns (ITRs) for the financial year 2022-2023, the Finance Act of 2022 introduced an extended provision under Section 139(8A). The window for filing updated returns ...

In the realm of legal resolutions, out-of-court settlements stand as a beacon of swifter dispute closure, steering clear of the arduous terrain of courtroom battles. Yet, beneath the surface of these agreements lie intricate tax implications that demand a discerning eye. ...

Colgate-Palmolive India, a prominent multinational consumer goods company, is contesting a transfer pricing order from the Indian Income Tax Department, challenging allegations of undercharging its parent firm, Colgate-Palmolive Asia Pacific Limited (CPAP), for technology and marketing services during the fiscal year ...

The GST Council on Saturday clarified that guarantees provided by corporates to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company. The council, ...

Oravel Stays Ltd, which operates travel tech brand OYO, is set to report its first-ever profit after tax of over Rs 16 crore in the current quarter ending September, according to an email sent by OYO's founder and CEO Ritesh Agarwal ...